ACNB (NASDAQ:ACNB) Upgraded at Piper Sandler

Piper Sandler upgraded shares of ACNB (NASDAQ:ACNB - Free Report) from a neutral rating to an overweight rating in a report released on Monday morning, Marketbeat Ratings reports. Piper Sandler currently has $50.00 target price on the bank's stock, up from their prior target price of $37.00.

A number of other analysts have also recently weighed in on ACNB. StockNews.com upgraded shares of ACNB from a "sell" rating to a "hold" rating in a report on Friday, November 15th. Janney Montgomery Scott initiated coverage on shares of ACNB in a research note on Tuesday, November 19th. They issued a "buy" rating and a $53.00 target price for the company.

ACNB Stock Up 5.6 %

NASDAQ:ACNB traded up $2.29 during trading hours on Monday, reaching $43.26. The company's stock had a trading volume of 53,651 shares, compared to its average volume of 32,286. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $369.83 million, a P/E ratio of 11.60 and a beta of 0.65. The stock has a 50 day moving average price of $40.11 and a two-hundred day moving average price of $42.36. ACNB has a 12 month low of $30.24 and a 12 month high of $50.72.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.06). ACNB had a return on equity of 10.91% and a net margin of 24.09%. Equities analysts predict that ACNB will post 3.22 EPS for the current fiscal year.

ACNB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.28 annualized dividend and a dividend yield of 2.96%. ACNB's dividend payout ratio (DPR) is currently 34.32%.

Institutional Trading of ACNB

Institutional investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of ACNB by 3.9% in the third quarter. FMR LLC now owns 570,731 shares of the bank's stock worth $24,924,000 after buying an additional 21,358 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of ACNB by 145.4% in the 4th quarter. JPMorgan Chase & Co. now owns 27,362 shares of the bank's stock valued at $1,090,000 after acquiring an additional 16,214 shares during the period. The Manufacturers Life Insurance Company grew its stake in ACNB by 13.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank's stock valued at $5,074,000 after purchasing an additional 13,840 shares during the last quarter. Citadel Advisors LLC increased its holdings in ACNB by 117.7% in the 4th quarter. Citadel Advisors LLC now owns 23,536 shares of the bank's stock worth $937,000 after buying an additional 12,727 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in ACNB by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 273,669 shares of the bank's stock valued at $10,900,000 after acquiring an additional 10,796 shares during the period. 32.35% of the stock is currently owned by institutional investors and hedge funds.

About ACNB

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans.